News Releases for June 2005
June 28, 2005
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Hoeven, Dalrymple Meet With Export Service Professionals, Expand Support For North Dakota Exporters
FARGO, N.D. - Governor John Hoeven and Lt. Governor Jack Dalrymple today met with leaders in the export service sector at the Fargo Jet Center. The group gathered to kick off the North Dakota Trade Office’s international trade expansion plan, scheduled for “take off” next month. In addition to working to expand the North Dakota Trade Office, Hoeven has worked with the U.S. Department of Commerce to establish a U.S. and Foreign Commercial Service office in Fargo. The office is staffed with a full-time International Trade Specialist to assist North Dakota exporters.
“Because every foreign trade sale brings new dollars into our economy, export trade is a significant and growing part of our economic development growth strategy,” Hoeven said. “It’s extremely important to work closely with our export service professionals, who have the collective expertise and ambition to help North Dakota businesses increase foreign sales.”
Participating were freight forwarders, finance professionals, lawyers, trade managers and business educators, each with a specialization in international trade. In addition, representatives from the regional and local U.S. Commercial Service Offices, Export-Import Bank in Chicago and the Bank of North Dakota participated. Officials from the North Dakota Department of Commerce Economic Development and Finance Division, the Small Business Administration, and the U.S. Department of Agriculture were also on hand bringing small business and rural financing mechanisms to the table.
“We are excited to be on the ground floor as the North Dakota Trade Office takes exporters to the next level,” said Asmah Tareen a North Dakota native who is now a senior associate in the international department of Fredrikson & Byron, P.A., a Minneapolis-based law firm. “We support the efforts of this organization, knowing that North Dakota businesses have so much to offer and that there is tremendous potential for export growth in this state.”
Hoeven, whose background is in economic development and finance, chaired a roundtable discussion among attendees involved in export financing in an effort to address needs of North Dakota exporters. “It makes sense to bring all the financial players to the table,” said Hoeven. “The immediate advantage of the meeting will be for those of us in North Dakota to become better acquainted with international players on the regional and federal levels, in both the public and private sector.”
“The Ex-Im Bank is available to assist North Dakota exporters by providing working capital guarantees to lenders, insurance on receivables for both lenders and exporters, and guaranteeing qualified loans for North Dakota capital equipment exports,” said Michael Howard, regional director of Ex-Im Bank's Midwest regional office. “We have already served clients in North Dakota and based on recent activity we’re preparing for more.”
The export service providers at the meeting today will be featured on the web portal being developed by the North Dakota Trade Office. “As a one-stop-shop for exporters, this easy access web site will list the services of qualified and trusted export service providers committed to helping North Dakotans expand their international trade volume,” said Susan Geib, executive director of the North Dakota Trade Office.
The North Dakota Trade Office is a public-private, nonprofit partnership between the North Dakota Department of Commerce, the North Dakota District Export Council, exporters and export service providers. Since March 2004, the North Dakota Trade Office has been working to establish a database of active North Dakota exporters, assess export barriers and opportunities, and develop a business model to increase exports of North Dakota products to international markets. The 2005 legislative session allocated funding to the North Dakota Trade Office contingent upon obtaining matching funds from the private sector. Exporter meetings will be held in Dickinson, Fargo and Grand Forks in mid-July to present plans to “fly with export expansion.”
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